Real money for virtual cloth: New trends in digital Fashion
Digital Fashion is increasingly attracting gamers, crypto investors, and big fashion brands
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The pandemic has sparked interest in the shared virtual environment, or Metaverse. This led to the market for digital mode or wearable NFT devices. Digital Fashion has evolved from an experimental to a thriving industry as technology and knowledge improve, data-driven understanding of what people want to buy and wear virtually increases. Virtual ownership generates actual sales on the Metaverse as the Metaverse style takes shape.
Fans of digital casual wear, Flames of Rainbow, and Fortnite are the biggest fans of any player. Digital Fashion is a critical component of people's virtual identities as they move from specialty products to popular ones. The Screenwear Paper recently published Virtue Worldwide, a report on the digital fashion market. It explains how people deal with personal style in virtual outfits.
NFT wearables offer an immersive experience:
People who buy digital Fashion are not all gamers or crypto enthusiasts. Many of them are women and are very interested in shopping in virtual stores. Fashion going mainstream in five years shows that they expect half of their clothing to be digital.
Retailer Carlings in 2018. Considered one of the most influential early digital fashion collections, the project won the top Cannes Lions award in 2019.
Check 3,000 people in the global market of USA, UK, Germany, Mexico, Korea, Saudi Arabia, Egypt, and United Arab Emirates with Fashion. 82% have bought virtual goods, and a third have bought Fashion. Of those interested in digital Fashion, 47% are not cryptocurrency users.
Young men dominate Web 3.0 purchases at e-commerce technology provider Scalefast, which found that 61 percent of virtual goods, or NFT, shoppers in the United States are male. In addition, the Virtue survey shows that 70% of people say they buy something to create or enhance a digital identity, express themselves or have something unique.
Online video games remain the primary environment for digital shopping. 62% of US consumers surveyed have purchased a digital item for their video game avatars, such as an accessory, skin, or clothing. During the upcoming Metaverse Fashion Week, many brands will be selling both digital and physical versions of their designs.
In recent months, major fashion brands have invested in NFT. One of them is launching a meta-universal game where players can collect NFTs, while the other sells wearables on the gaming platform.